Matrixport: Multiple factors lead to ETH price showing resilience beyond fundamental expectations

BlockBeats News: On July 9th, Matrixport posted on social media that Ethereum prices have recently shown resilience beyond fundamental expectations. Despite the continued low on chain activity measured by gas costs and the lack of a significant rebound in overall network heat, prices have not experienced a pullback and instead continue to steadily rise. Matrixport believes that this trend is mainly driven by the following structural factors: firstly, some institutions have gradually included ETH in their treasury assets, further strengthening its positioning as "digital gold" in the asset allocation system; Secondly, the issuance of stablecoins on the Ethereum network remains active, continuously injecting liquidity into the on chain ecosystem; At the same time, the advancement of the GENIUS Act in the United States has brought medium - to long-term policy benefits for Ethereum in terms of compliance pathways and institutional participation. Combined with the seasonal strength of July, the current price structure of Ethereum is not only driven by market inertia, but also reflects the resonance between fundamental support and market expectations. For long positions, $2500 should still be considered a key technical support level.